The owners of Atlético de Madrid are in advanced talks to sell a majority stake in the Spanish football club to Apollo Global Management, sources told Reuters. The U.S. investment firm is negotiating to acquire shares held by CEO Miguel Ángel Gil Marín, Chairman Enrique Cerezo, and potentially Ares Management.
While Apollo may not secure full control immediately, it is expected to reach a majority position later in the process. Negotiations remain ongoing, with management likely to stay in place. Expansion first reported that talks center on a deal valuing the La Liga club at around €2.5 billion ($2.9 billion).
Apollo has secured a three-month exclusivity period running until mid-October. Atlético has previously indicated it will need a capital increase of at least €60 million to fund squad investments and projects around its Metropolitano Stadium. Apollo’s move aligns with private equity’s growing push into sports, which are viewed as stable, revenue-generating assets.
Source: Reuters
